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tv   Power Lunch  CNBC  May 14, 2014 1:00pm-2:01pm EDT

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all-star lineup of exclusive interview. how about leon cooperman, steve kuhn, you have a good lineup ahead today, too. >> we're looking forward to your interview, the judge, the general. >> and the prime minister. >> the judge, the general, the prime minister. just wanted to say on the judge there for a second, and i forgot about the prime minister and the general. we will see you tomorrow. back to headquarters tomorrow, "power lunch" begins right now. a judge, a general and prime minister walk into a casino. that's the star of a good joke. >> the record highs, is a summer rally still on? or are they looking at a big of a summer swoon. >> major move to thaw housing, federal regulators loosening credit, making it easier to get a mortgage. will the plan work?
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we'll look at what is holding housing in a sort of stalled position, and the signals you need to watch. despite all those fees and complaints about uncomfortable seats, travelers in the u.s. have never been more satisfied with the airlines, have we all just become numb to flying? let's look at that one. hi, sue. >> stocks taking a bit of a breather. right now there's a look at some of the utilities. at the dow is down about 60 points, nasdaq down almost ten. at 2.53%. is a summer rally still in the cards? or should investors still be worried and cautious? joining us from kansas city, chief investment officer of creative planning. they have $10 billion in assets under management.
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peter, welcome to the program. nice to have you here. >> it's going to be here. >> if you didn't know it, is listing its list of top financial advisers, so we have a bit of a surprise for you, because the real reason we invite you to come on today is because your firm has ranked cnbc's top fee-only wealth management firm in the country, you are number one on the list. congratulations. >> happy to hear that. thank you very much. it's always going to be number one when we didn't even know it was happening. so we appreciate that. i'm sure they will find it validating. >> let's talk about what you think of the market. you have basically done extremely wet over the last five to ten-year period of time. as you look at the market now,
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how do you feed about it? >> we've been very big on education. if you look at there are periods of time where for a year we will underperform, say, the s&p 500. last year would be a great example of that. i think our when they're looking at markets, they want to understand why they have exposure to various markets. p ratio of around 15, dividend yield of over 2, 2.2, that's historical norms. when we have a year like that, one fourth of it's down. >> so, peter, first, i want you
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to calm down now, after receiving this high honor here. i just want you to restrain yourself. do whatever you have to do. do you use etfs and mutual funds? >> our core purpose is to customi customize. what we do at creative plans, we get to know the client. so rather than take risk-based approach to investing. >> what is their ultimate goal? to leave a big inherit answer, a long retirement where they spend
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money and travel a lot? is it charitable? we try to mav them to those specific goals. that would require a multiasset close approach. then we don't tie -- we don't look at every asset class the same. as an example of that, when we buy mlps for our clients, we buy them as individual securities, because that's the only way they can get the full tax benefit that comes with it. >> a master limited partnership for those who don't know. >> if you take a longer term view, you favor the emerging markets because of the big run we've had. and if so, which market do you like better than others? >> wu just buy it as an asset class. we consider that an extremely volatile very risky asset class.
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for our client base we would buy the index in that space or purchase it through dfa, so use something like -- a vehicle like that with broad diversification, it's still a niche play, highly correlated group. >> as a group, you have a p-ratio of 10, a dividend yield of 2.7, if you've got five or ten-year money and you're patient, and you can handle short-term volatility, there's a reason it's depressed. but you'll be rewarded in the long run. >> peter, thank you very much. we appreciate it. can we hear a big woo-hoo? >> feel free to have him on anytime to tell me we have been number one on your list. i'm happy to do that. thanks, guys. >> absolutely. congratulations for being number one. >> thank you.
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cnbc digital has handled some of that work for you. it's terrific. check out the new list of the top 100 fee-only wealth management firms. we rated them on whether they work with third parties and whether they have professional designations. for -- we rank them bin average account sides, and on their client segmentation. or disclosures from federal or state regulators, and all the firms work on a fee-only basis. which are the best performing
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sector in the s&p 500 so far year to date. the sector is moving higher again today. you have names like wisconsin energy, also amoren. really starting to outpace the overall market. >> time now for the -- retail edition. macy's earnings beating expectations, raising the dividend by 25%, but changes were down for the quarter, i know this is a stock, company you have liked for a long time, so much so it's a holding in your retirement portfolio. what do you think here? >> i still like it here. yes, the comps were down, but think about this. their margeens were actually up year over year. that shows you the power of where they come from, they're
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also to keep those margins impact. not many retailers will be able to say that in this fourth quarter, as we expect most to miss their. >> number two, walmart and j.c. penney, earnings out tomorrow. >> walmart told us flattish comps, i was actually surprised they didn't guide down worse than that. i wouldn't be surprised to actually see a negative comp. the consumer is still under pressure. so the thing to watch out for, how much are they investing in pricing going forward, to get that market share back in the door. i think that will tell us a lot. >> what about penney's quickly. >> j.c. penney, they're looking for positive comps.
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still the turnaround story, less part of the story until disruption here, but i would stay away from it. >> on to another struggling retail investor, sears may sell its majority stakes in sears canada. what is sears' fund? >> i like to use the analogy here, you can't -- so really that's what sears is doing. we know their core business they have not invested in in years, we know sales have been down year after year, and they're basically getting rid of assets to keep their cash position a place to stay in business. i think they're outdated, way too much to have to invest in, so i would definitely stay away. >> stacy, thanks very much. >> thanks, tyler. >> a major and developing story, ty, that we are watching, at least 238 workers were killed in western turkey wednesday.
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some, 120 are still missing. the explosion took place during a shift change with nearly 800 workers inside the mine, some as deep as 460 yards. the deaths were caused by carbon monoxide poisoning, which also has slowed down rescue operations. the last survivors was pulled from the mine at dawn, and hope is fading for those still missing, turkey's prime minister postponed a foreign trip, to visit the mine and comfort the family members. we will keep you posted on those developments. here at home, many of the world's top emerging markets in ceos are right here in new york and so is michelle caruso-cabrera. >> most of them from latin-american, sue. right after the break, sitting to my right is the ceo of clabine. we love talking to ceos of paper companies, because corrugated
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boxes tell us everything about the economy. that interview after this break on "power lunch."
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welcome back. wynn resorts has monday lower. exercise stock options and sold shares earlier this month, there are also reports of a possible crackdown from macaw on certain swipe machines that are used in
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that region. that's affected big names as well. so watch all of those big casino stocks. sue, back over to you. >> we sure will, dom, thank you. a landmark night for christie's auctioning off contemporary artworks. it's the highest total for a single auction in history. asian collectors bid with a vengeance. about half of the items sold for over $20 million went to asian buyers. the unexpected top seller was black fire an abstract canvas which after a furious four-bay bidding sold for $84.1 million. "flying fish" fetched nearly double the estimate, because perhaps the fish is the chinese symbol of good fortune. >> one of mark rohtko's, this one from the early '50s.
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christie's's final tally, $745 million worth of art sold primary to mainland chinese buyers bidding over the phone. quite a nighttime. >> absolutely. a major ceo conference is under way in new york city. michelle caruso-cabrera is there with a special guest. hi, michelle. >> conference of latin-american ceos, fabio schwartzman joins me, the ceo of the largest producer of paper in brazil, largest exporter of paper in brazil. good to have you here. >> thank you for having me here. >> like i said in the tease, we love talking to ceos of paper companies, you produce corrugated boxes, cardboard boxes, a great measure of any economy. what are sales tells you about the brazilian economy? >> the brazilian economy unfortunately is weakening. there are clear signs in this
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direction. the explanation is easy. we face inflation, and because of that rising interest rates, rising interest rates, they are derivative, but they cause the economy to slow down. >> they've been up 375 basis points by the center bank. for the audience may not know, they stand roughly at 11%. what about the world's cup? there was a hope that the world cup would invigorate the brazilian economy, we're hearing contradictory evidence about that. what do you think it's doing? >> actually causing more uncertainties, and adding to the weakness. >> adding to the weakness. why? >> because of the uncertainty what's going to happen, if the construction will stop during this event or if it's going to grow. nobody knows. if i may, we face the situation in klabin using the flexibility
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the company has. we export more, taking advantage of our product is demandened worldwide. >> weaker currency also made you more competitive? >> that's part of the reason why we decide to increase exports, because -- and we did it very quickly. in order to not lose that window that opened. >> in your investor presentations, you focus a lot on disposable diapers in brazil. why? >> well, you know, with this new middle-class growth in brazil, the consumption of diapers in the country increased a lot, because it used to be a very expensive item. in the next few years, people started to consume a lot more, and as a consequence hundreds of
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thousands -- of -- that's used mainly for the production of diapers, absorbants, things like that. and klabin through the project, we will start to have the first local production of fluff in the country and obviously we will try to -- >> have you been affected by the talk of tapering by the federal reserve if. >> we are raising capital in the middle of last year when this tapering talk started, and we suffered the consequence. but it appeared then, but six months later, the market was back, and we were able to raise capital. it's not much different from the different economic scenarios that we face during so many years. >> thank you so much for joining us, we really appreciate it.
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fabio schvartzman, a large exporter as well. sue, tyler, back to you. >> thank you so much, michelle. are you frustrated with airline travel? guess what? believe it or not, you're in the minority. cnbc's phil lebeau has that story for us. >> i love this story not only because i fly so much, but i hear people -- the airlines are terrible. guess what? new data shows that people are more satisfied than ever before in the skies. we'll have the number and debate whether people are setting their standards a little low. coming up, a razor-focused power pifl. this start-up aims to shave the competition. >> it's a pretty high quality product. >> currently has 66% of this market, how do you intend to compete? >> stay tuned to find out. r than you expected.
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welcome back. plug power warning that it doesn't expect a profit this year, this due in part to fallen orders. they make hydrogen fuel cells. they're trading down about 7%. despite today's losses, the stock is nearly up about 150%.
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>> sue, i'm surprised you didn't use more puns in the introthere. >> i had my opportunity, but --. >> there you go. >> this is the story that people who hate flying should pay attention to. i've complained like everyone else, but flyer satisfaction is at an all-time high. they do this every year, this is the eighth year of the survey. according to them in-flight service are a big reason people are more satisfied. this brings up the question what about the bag fees? >> are more comfortable with those fees. in fact, 44% of the people surveyed this year is an improvement of 7%, they actually think the bag fees are reasonable. so what are the top airlines in term of legacy, alaska coming in
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number 1, followed by delta, americans, and on the low-cost side jetblue in part because of the positive comments regarding my tv service, then there you see southwest air over the last year, and real quick, let's look at the airline index. about what they're paying when they're flying. i'll take your word for it. thanks, phil. >> you bet. ty, up to you. >> wow. time now for our series the power pitch where we give ent entrepreneurs 60 seconds to make their pitch.
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and then our panel of experts will decide whether they have what it takes. >> i don't care what demographic you are in, everybody realizes that they're overpaying for razors. everybody does. we wanted a great shave, just didn't want to spend millions of dollars on it. >> every man and woman wants a great shave, they're just tired of overpaying for it. i'm cofound you are of my business partner and i are outraged at the prices were paying, $35 for cartridges. we looked into the industry and what we found is the barrier to entry was to find a manufacturer who could provide a razor equal for the to the national brand. we signed an exclusive agreement with an american-made razor
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maker. for men and women, and we deliver free. customers love the quality of our product. that sets us apart from our online competitors who use cheap imported products that don't give a great shave. customers love us, and our repeat order rates are through the roof. >> joining us on the panel today is any kitscha alcindor. before she she served as a mentor at columbia business school. >> and paul lee. he serves on the board of sprout social, to name a few. okay, phil, great to have you with us today. you're in the hot seat. nikisha, first question to you.
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>> gillette currently has 66% of the market and recently launched a subscription service similar to yours. how do you intend to compete with them? >> with the gillette program, you have to go through another retailer to get to this. we go directly to the consumer, and ship for free directly to your door. >> there's competitors offering a similar product at a lower price. how do you straddle that fence trying to be a value provider? >> we are providing a razor equal to and a quality shave to the major brands. the other guys out there sell less expensive product, because it's a less quality product. customers want a great shave for a fair price we back it up with a guarantee. >> i know you have shaving products for women. are you also going to expand into other products as well? >> we're not just a subscription business. we found with subscriptions
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after a certainty period of time customers get backed up. we are moving into other products. we're moving into shave creams, shave lotions, things like that, for men and women. >> can you talk a bit about your margin dynamics from year one to present today? >> our product cost goes down the more volume we do. so our margins continue to increase. we expect significant increases as we break the million and 2 million barriers. >> what would better your average margin? you have free shipping, trying to undercut on price. hue do you make money? >> everybody is trying to do a monthly subscription model. we sell less often to the customer but more, so we're selling 12 cartridges at 19.95, about a four-month supply, so our margins are about 60%. >> what percentage are repeat purchases? >> about 60% of our customers
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repeat. the issue that we have is we're still young, so we have customers who bought a year's supply, so we won't see those customers for a year. the lifetime value of a customer right now is over $160. it continues to grow. >> can you talk about the up side to a new investor? >> the market is driven by the big brands. we expect to capture 10% of that market. that's our goal, our focus. >> guy, we heard what phil his to say. we want to know whether you're in or out on what do you think? >> you do have venture capital darrellings who have raised aen to of money and are well known in the space. i just feel that you have an extensive competition out there, as well as your branding isn't quite where it needs to be. so unfortunately, phil, you're a really nice guy, but i'm out. >> we've got one out.
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what about you, paul? >> to date i haven't seen anyone taking the approach of exclusively focusing on the women's market. i don't know how big that industry is, but that might be an interesting area of focus for the business moving forward. as it stands today, given their brand positioning, i am out. >> i like the fact they're differentiating themselves with the women's products, but i would like to wait and see how that gains traction before i would sign is a checkbook -- not that i have a checkbook. i'm out for the moment, but i really like the concept. it sounds as if everyone is cautiously optimistic. how do you feel? >> i feel fine with that. we have some good backing, we're moving forward, our customers love our products. we know where we stands, and we continually focus on building or brand and brand positioning. >> wonderful, thank you for taking is so well and thank you for coming on. thanks also to our panelists. that, folks, is today's power pitch.
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i don't know that we've ever had three outs on the power pitch. you heard what the panel had to say, but now we want to hear from you, are you in or out? you can long-on, or follow the conversation a twitter with the #powerpitch. i feel bad for him, too. i don't think we've had three. >> i don't remember one. >> i don't, either the gold market is up, and once again, some of the other metals that have been performing very well recently, the copper market, based on better data coming out, and palladium is 1.3%, you're up to date. let's head uptown to the nasdaq. hi, sheila. >> we are seeing a bit of weakness when it comes to the
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nasdaq composite. art cashing says watch these levels carefully. if we break through we could see more deterioration. as for some of the big movers, look at apple and qualcomm. there is a goldman report out that talked about china's lte prospects, and they actually think that apple and qualcomm could be big beneficiaries of that. boy tech is another area of strength we are seeing today. gilead and amgen leading the index higher, one is a big meeting today, waiting to see what the latest data is when it comes to cancer drugs. back to you. thanks, shielda. let's look at the bond market. the ten-year bond -- and it's kind of holding at those levels. rick santelli is with us. >> hi, sue. i know everybody is debating and everybody seems to want to blame kiev and the ukraine, but i think there's so much more into what's going on with interest rates. remember, it started, you know, not in march, mid march when
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they had the referendum. not in the third week in february when all that really started hitting the news. it basically started after the streamers came down on new year's eve. as you look at intrasee, see it was down to 252 yield, now hovering at 254. look tess fives. that could be the lower yield close since mid march. and enthink what's very fascinating, to correlate what's going on with the japanese yen. when you look at a two-day chart, or year to date, it really is amazing how they continue to correlate, and where we close today will determine the 28, 29, 30, and 31st of october since we were last at these levels. tyler, back to you. >> rick, thank you very much. that's how they correlate, one on top of another. housing front now, regulators say fannie and freddie should focus on making more credit available.
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will it work? cnbc's diana olin has that story. >> what a great question for a debate. is it a major shift in housing policy or just a drop in the bucket to try to boost the rover. we'll have it all next on "power lunch." i make a lot of purchases for my business. and i get a lot in return with ink plus from chase like 60,000 bonus points when i spent $5,000 in the first 3 months after i opened my account. and i earn 5 times the rewards on internet, phone services and at office supply stores. with ink plus i can choose how to redeem my points. travel, gift cards even cash back. and my rewards points won't expire. so you can make owning business even more rewarding. ink from chase. so you can. ♪ ♪fame, makes a man take things over♪ ♪fame, lets him loose, hard to swallow♪
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welcome back to "power lunch." check out what's happening with ibm shares, big blue is repeating the financial goal of hitting at least $20 earnings per share. it also toll analysts its money-losing hardware business should reach break-even this year, but investors don't appear too impressed. tyler, down to the down side. back to you. we told you yesterday the federal regulator saying those two companies should focus on making more credit to potential homeowners, but will it really work? our reporter diana olick is with us from washington. >> reporter: that regulator is in fact loosening the noose on credit, mainly trying to appease
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the banks. barracks have been charging extra to account for that risk. regulators also saying they will not shrink the size of the loans that fannie and freddie do, still up to $417,000 in most market. is that enough? you have to look at what is stalling the housing recovery. first look at mortgage rates. they were actually coming down a bit, but at the same time you have home prices rising faster than anyone expected and faster than historical norms. they're coming down off the huge annual gains we saw last year, but they're still way up. if rates keeping moving down, that does help to offset the higher prices a bit, but then we're back to the question of tight credit. the fha is offering a break on its insurance premiums if you go ahead credit counseling, so that helps, and that said, fannie and freddie are easing up a bit. but is it enough? if first-time buyers buy, then
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other people can sell and buy to move up, and that helps the recovery. a lot more on this on >> diana, stick around. matthew graham, welcome, good to have you with us. you know, diana reported yesterday and just recapped today of the sort of i guess i would call them moves it is fringes of the mortgage market. is it enough? is this what the housing market needs now? >>. >> well, it's tough to say what the housing market need and if anybody had that answer, obviously we probably would be doing that. i think it's a step in the right direction, but at the end of the day, this really just loosens the constraints a lenders, and is going to allow them to maybe decrease their margins just a little bit. that's only going to slowly translate to looser guidelines. it's not as if the -- >> i know you and many people, not just you, but many people believe that 2014, like 2013,
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would be a year of rising interest rates, rising mortgage rates. so far that hasn't panned out. they're down a little bit. do you expect that to continue? is this a window of lower rates? or will they start rising again soon? what? >> it's probably a window of lower rates, but it does depend on what goes on with the european central banks, potential easing coming up in early june. that's kind of what's juicing rates lower today. and the bigger question is, if it goes lower, it's not going to get back to where it was in 2012, 2013. that's probably what we would need to see those same levels of refinancial demand come back. so potential a bit lower, but with constant pressure, sideways to slightly -- >> diana, what is keeping the first-time buyers out. i assume it's affordable.
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>> reporter: absolutely. we can talk about lower mortgage rates, but really we've been moving in a very narrow margin over the last year or so. what that first-time buyer niece, the down payment. they need 20% or if they're dos fha, they're going to have do do insurance premiums. they still need 3.5% down. they are struggling under student loan debt. they are also looking at that monthly paper. they don't buy a home price, they buy a monthly payment. they have to be able to see that that payment is affordable. when you look at how many competition there is in from the market, thee up against that as well. someone with all cash might get the house over them first, so it's tough on the first-time credit dependent home buyers today. >> that's really the truth. incomes, of course, aren't rising, unemployment is still relatively high, so it's very hard for the first-time buyer to break in, particularly with a 20% down payment requirements that many lenders have.
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matthew, what do you think is next for house prices? they seem to have -- the gains seem to have slowed a bit here in the past couple months, but still year over year up 10%, 12% nationally. >> right, i think you hit the nail on the head. while the year over year numbers are up, the month to month numbers are declining or leveling out, but that depends heavily on gee or graphical area. without the rates as low as they were, i don't think there's as much support. >> how is housing in portland? >> it's doing very good in portland. it's one of the better market. >> he said with a smile. diana, great to see you. sue, down to you. we're going to talk market volatility. what's your best strategy? one four-starred fund managers tells es it's all about cash, timing and choosing the right stocks. sounds simple, but it isn't. hell'll give us his power picks
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welcome back to "power lunch." check out what's happening with keurig green mountain. the stock is falling as north coast resumed coverage of these shares with a sell rating. it says it expects growth rates to slow in the k-cups products and increased competition. the stock moved higher earlier this week on news that coke cola had raised the stake from 10% to 16%, near session lows now. back to you, sue. dom, thank you very much. we've had quite a bit of market volatility. where and when do you start putting money to work. mark travis, president of intrepid capital funds, is currently 28% in cash, and the four-star fund that he manages is just about doubling the performance of the s&p year to date. >> mark, welcome to "power lunch." also joining me will be bob pisani.
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28% in cash, does that indicate -- to a certainly point that indicates that you're cautious about certain aspects of the market? >> i lost ought i don't. can you hear me? >> apparently not. >> 28% in cash, that's pretty high. >> that's what i was saying. >> i'm here. >> thank you, sue. i'm back. >> okay. good. good. we were just remarking that 28% cash seems high. >> sue, most people look at that and assume it's a topdown decision on our part. it's really not. it's a function of a couple things. one is a balance fund, so you have some fixed income that's been called, and maybe we hadn't gotten out on the re-fis, and stock prices are up. so we've had some liquidations.
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in all honesty, this fun, the cash is typically been in, you know, the 12%, 15% range over the life of the fund, which is almost ten years next january. >> mark, how do you feel about equities right now? are we fairly valued? >> well, that was much needed. it reminded me a lot, bob of '99-2000, where you're just standing with your jaw dropping, at least i was. those have corrected somewhat. year to date the russell 200 is off 4% to 5%. the small caps have done well really since 200. >> i think if you carve out the nonprofitable ones, prices are still pretty high. it's hard for us to find a
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single-digit multiple there's some we're able to find, but just not a lot. you have five year numbers that are you want 19%, well above average. >> can you give some comment about what you this i is going on the in the market right now. i see yields off ten-year down to their lowest level since october. some central banks are talking about more stimulus. they comment on that today. so we're at the lower level since october of last year. there seems to be a problem with the theme here, where we're supposed to be considering halting stimulus at this point globally, and handing it off to a growing global economy. that doesn't seem to be happening right now. what do you think is going on?
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>> think if you look -- it's still about 138 million so my question to all of them is, you know, repeating the same thing over and over again, expecting a different result. is it really working? i will contend it doesn't. for a session that ended almost fiveiers, why are we doing this? >> right. as we wrap things up, some of the stocks that you like include mattel, staples, oak tree capital, and intuitive surgical. so we want to leave it there. thank you very much, mark, and thanks for putting up with that little technical difficulty. >> no problem. thank you, sue. >> ty, up to you. cisco systems stock has taken a wild ride, up just about 8%, but it's been up and down. the tech company reports quarterly results after the closing bell in a few hours, and
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josh lipton is in san jose to get us ahead of the numbers. we're going to tell you all you need to know when "power lunch" continues.
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let's all sing together now happy birthday to mark zuckerberg. he turns 30 years old today. born in 1984, went on to attend harvard in 2002, that's when he started there. while he was there, the next year he created facebook's predecessor face smash. facebook a year later, left harvard. that same year in may of 2004, and four years later, named the youngest self-made billionaire by "forbes." also "time's" person of the year, 2012 he took facebook public, last year topped the list of u.s. philanthropists, 26.7 billion net work. earning him numb 22 spot on "forbes" world's billionaires list. next time around when he turns 40, let's so what he's done in the next decade. what's his second act? >> my goodness, i cannot even imagine, but i'm sure it was be simply amazing. cisco systems to report its
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quarterly results, so what should you be watching out for? josh lipton is in san jose to get you ahead of those numbers. >> hey, sue, cisco reports earnings after the bell today, the networking giant is expected to report a profit of 48 cents a share. that would be slightly lower than the 51 cents a share in the same quarter a year ago. cisco's retch, that is the number to watch, the company expected to report quarterly revenue of 11.36 billion, less than what the company reported in the same period a year ago of 12.2 billion. cisco shares basically flat this year, while bumping up close to 7% over the past 12 months, analysts are expecting in-line results, but investors will be looking for the company's outlook on corporate i.t. spending, analysts at janney say it's no longer a strong secular growth business. that is at the core of what cisco does. sue, back to you. >> three top wincers, josh, on
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the trading day coming up, including one tech stock that's up over 7% this session alone. all of that is straight ahead. first, to mandy. what's coming up at 2:00. how much are the clippers really worth? plus a mystery chart that will make you sigh and say, oh, how things have changed. cool things today on "street signs." make sure you join us, top of the hour. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. [ girl ] my mom, she makes underwater fans
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before we turn it over to "street signs", the dow jones industrial average off about 60 points on the trading day, followed by the transports, which are down 0.6 of a percent. s&p 500 is down about 3.5 points, and the nasdaq is down nine on the trading session. six-month low hit in the ten-year note in terms of the yield. right now the yield is 2.54% on the trading session. we do have some winners in this market today. iron mott is up 7.75%, western digital is stronger, and akamai is up. the stock market and the bond
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markets telling kind of different stories. >> forred past week or ten days or so. today a bit of a reversal, but you can't always go straight to the sky, can you, see? >> no, you cannot. that's true. that will do it for "power lunch." >> "street signs" begins right now. see you tomorrow. could an obscure legal ruling in europe become very bad news for google? hello, everybody. it is the story you probably aren't talking about yet, but you need to. plus how mark zuckerberg and his $100 million got schooled on new jersey politics. why mark cuban might be wrong about how much the l.a. clippers are actually worth and another tv anchor rant -- can you see only half the head there? that was good. >> so a slow today in the


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